Thompson v. Holladay
Oregon Supreme Court
Appeal from a decree of the Circuit Court for the county of • Multnomah. 1. An insolvent debtor has no right, pending a creditor’s suit, to prefer one creditor by giving him a mortgage or assignment. But where the receiver is appointed simply to preserve the estate pendente lite, and not for an equitable distribution of the assets among the creditors, a creditor may enforce a demand by suit. (Ellieot v. U. 8. Ins.
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Appeal from a decree of the Circuit Court for the county of • Multnomah. 1. An insolvent debtor has no right, pending a creditor’s suit, to prefer one creditor by giving him a mortgage or assignment. But where the receiver is appointed simply to preserve the estate pendente lite, and not for an equitable distribution of the assets among the creditors, a creditor may enforce a demand by suit. (Ellieot v. U. 8. Ins. Co. 7 Gill, 807.) 2. There was no reason why Holladay could not make the mortgage to Thompson while the latter was receiver. 3. Joseph Holladay should be required to exhaust all…
1Opinion of the CourtThayer, J.
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The respondent commenced a suit in said Circuit Court against a number of defendants, including the appellants herein, to recover a decree against the defendant Ben Holladay, qn account of moneys advanced by the former to the latter, aud interest on the same at the rate of ten per cent per annum, from the time the advances were made, and to foreclose a chattel mortgage upon 1,194 shares of stock of the Portland Street Railway Company given by the said Ben Holladay to the respondent, to secure the said advances, said stock then being held and in the possession of the respondent as receiyer in…
2Cases cited5 opinions
- Heidritter v. Elizabeth Oil-Cloth Co.Supreme Court of the United States · 1884
- Loving v. MillikenTexas Supreme Court · 1883
- Hoffman v. RyanWest Virginia Supreme Court · 1883
- Johnson v. GunterCourt of Appeals of Kentucky · 1869
- Herring v. NeelySupreme Court of Iowa · 1876
3Cited by7 opinions
- Waters-Pierce Oil Company v. StateCourt of Appeals of Texas · 1907
- Cook v. MartinSupreme Court of Arkansas · 1905
- Pacific Lumber Co. v. PrescottOregon Supreme Court · 1902
- Egan v. North American Loan Co.Oregon Supreme Court · 1904
- Clapp v. ClappNew York Supreme Court · 1888
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